- Online Banking
- Direct Deposit
- Unpaid Closure Repayment Plan
- 2nd Chance Savings Account
Online Banking: Online banking will provide you with another tool to monitor and access your account. You can log on at www.mnvalleyfcu.coop. You will need to know your member number and your initial password will be your social security number. Online banking has many helpful features. One feature is Account to Account (A2A) transfer. With A2A members have the ability to move funds between their MVFCU checking account and accounts at other financial institutions. Also available is the Member to Member (M2M) transfer option. This feature allows members to transfer funds from your account to any account at MVFCU. You will need the member number, S type, and the first three letters of the member’s last name. Mobile texts and emails are also available thru online banking. You can set up alerts that will be sent to your phone as a text message or sent to your email. Receive alerts when a deposit is made, a loan payment is due, your checking account balance is low, and much more. Online alerts can also help keep your accounts safe, by setting up alerts that will automatically send you a message if "fraud like" transactions take place. For example, if an online transaction takes place in another state or if large amounts are transferred online between your accounts, MVFCU will send a message to alert you. All you need to sign up is your ten digit cell phone number followed by either @vtext.com (for Verizon Wireless customers), @sprintpcs.com (for Sprint customers), @utext.com (for Unicel customers), or @text.att.net (for AT&T customers). If you would like help logging onto your account for the first time or if you would like to be shown how to use account features, please let a MVFCU representative know at the time of opening your 2nd Chance Checking Account. You can also check your balance using A.R.T (automated response teller) by dialing 507-387-3088. Direct Deposit: Direct deposit is an electronic deposit method that does not require the issuance of a paper check. Direct deposit is safer than paper checks. You won't have to worry about lost or stolen checks and the payment will reach your account the day the check is issued. You will receive a form at the account opening that will allow you to receive direct deposits into the 2nd Chance Checking Account. Unpaid Closure Repayment Plan and 2nd Chance Savings Account: If your ChexSystem reports an unpaid checking or savings account closure, then it is required for you to set up a repayment plan and open a 2nd Chance Savings Account. The closure must be paid off in one year or less. You will sign and agree to a payment plan at the time of account opening. The payments you make every month will go into this savings account and once you reach the full amount due to the other financial institution, MVFCU will transfer the funds to that institution. If you do not stay on track with your repayment plan, your account will be closed. If there are no unpaid closures, no payment or savings plan is required. Click here to go to Chapter 3 | 
